CEO Elon Musk said Sunday that his involvement in the Trump administration could be hurting the automaker's stock price.
Speaking at a town hall event in Wisconsin, Musk said his role with the so-called Department of Government Efficiency — which is pushing for widespread government job cuts — is creating backlash against his electric car company and hurting the stock.
Watch 온라인카지노사이트 5 free wherever you are
WATCH HERE"What they're trying to do is put massive pressure on me, and Tesla I guess, to ... stop doing this," Musk said, according to . "My Tesla stock and the stock of everyone who holds Tesla has gone, went roughly in half. I mean it's a big deal."
Shares of Tesla entered Monday already down more than 34% year to date, and the stock has been cut nearly in half from its peak in December. Shares were down an additional 1.7% on Monday.
Get top local stories delivered to you every morning with 온라인카지노사이트 DFW's News Headlines newsletter.
SIGN UP The drop for the stock could be a "buying opportunity" for the long term, said Musk, who was in Wisconsin ahead of a state supreme court election there. Musk has campaigned for the conservative candidate and on the race, in addition to giving $1 million each to two voters at Sunday's rally for signing a petition against "activist judges."
The slumping stock isn't the only sign of public anger with Musk for his political work. demonstrated at Tesla dealerships over the weekend, and there have been reports of vandalism against vehicles and dealers across the country.
Musk's role in politics is not limited to DOGE. He publicly campaigned with Trump in 2024 and has been a regular presence at the White House since the new administration took over in January. He also regularly comments on many different political topics on X, the social media company he owns.
Money Report
The CEO's rising political profile comes amid signs that Tesla's core business is slowing. The automaker's vehicle , and preliminary data has shown that early this year, especially in Europe. In a note to clients Sunday, investment firm Stifel on the stock and lowered its sales projections for Tesla.
Musk's political dealings may not be the only reason for Tesla's struggles. Other have also labored in recent weeks, partly because of threats of higher tariffs on imported goods into the U.S. and retaliation from overseas trading partners, adding uncertainty to an industry whose supply chains are tightly woven among the U.S., Canada and Mexico.
